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Carillion sells investment in Public Private Partnership project for £31.3 million

Carillion plc has sold its investment in the Queen Alexandra Hospital Public Private Partnership project to HSBC Infrastructure Company Limited for a total cash consideration of £31.3 million.

At 31 December 2009, the combined value of the assets in Carillion’s balance sheet that are the subject of the transaction was £1.1 million. Since that date, Carillion has also made further investments in these assets. The total combined pre-tax loss attributable to these assets was £0.6 million in 2009.

This disposal is in line with Carillion’s policy of recycling its investments in Public Private Partnership projects, from projects on which construction is complete into new projects.

The Queen Alexandra Hospital, Portsmouth, was built by Carillion and Carillion will continue to provide facilities management services to the hospital under its current 35 year contract.

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